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Views: 45 DOM: 53 Updated: 10.29.24 Posted: 10.29.24 Status: Active

Summary

Price $6,891,000
Built/Renov 2023
Tenant 7-Eleven
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,872
Lease Start 08-10-2023
#Units 83,282
Price/SF $1,414.41
Expiration 08-31-2038
Tenant Type Convenience/Gas
NOI $344,515
R. Term 13.8
Ownership Fee Simple
Rent/SF $70.71
Increases 7.5%/5/yrs
Pop 5Mi 63,418
Lot/AC 1.25
Options 4/5yrs/7.5%
AHHI 5Mi $73,934

Lease Highlights

  • Brand new 2023 construction
  • New 15-year lease with 4 (5-year) options to extend
  • 7.5% rent increases every 5 years, starting year 6 in primary term and year 16 in options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located at the hard corner intersection of Heartland Parkway and FM 741, with access to a combined daily traffic count of 14,475 vehicles. The property is conveniently situated near several feeder schools including Barbara Walker Elementary, Hollis T. Dietz Elementary, The Goddard School, and Crandall Middle School. The immediate area features notable national tenants...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

7-Eleven is the world's largest operator, franchisor, and licensor of convenience stores. It operates, franchises, and/or licenses more than 83,000 stores in 19 countries, including over...


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Listing Broker

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